How to be a successful wealth builder ptII
Today the sirens of credit card are luring most people to the rocks of disaster, their enticing song buy now and pay later, is indeed truth in advertising, but it was certainly not intended to be. What exactly are the people doing? They are paying and the price they paying to have it now are clear.
Everywhere you see broken marriages, health, homes, and even lives. But the successful wealth builder knows the danger of incurring unnecessary debt and understands that the primary way or option to avoiding it is by delaying gratification.
The power of compounding (POC)
For you to become a successful wealth builder, you cannot ignore this powerful tool. Just as you can delay gratification to avoid falling into debt, you can also decide to save $100 monthly to your nest egg. in forty years ( compounded at the average S & P 500 rate of 10.2%) that extra saving will worth close to about $700,000:00 . what about if you can afford $200 monthly into your nest egg for forty years? Do the calculation your self; I can hear you say that is a lot of money.
Let me inform you of something here, just as compound interest has the power to work for you it can also work against you and I know you wouldn’t want it or will you? That thing that seem like a small thing now, can in the long run, steal your wealth. Thus, a successful wealth builder understands the power of compound interest.
Two kinds of people
There are two kinds of people, those who earn interest and those who pay interest. For you to be a successful wealth builder you, it’s mandatory for you to belong to the category of those who earn interest .because that is the fundamental difference between the wealthy and the desperate.
You don’t deserve it
Come on you deserve it is the greatest marketing sham they are employing against consumers all over the world. This is the result of years of advertising brainwashing. You deserve what? Something that will decay and lose value within a year, yet will continue to financially enslave you long after your infatuation with the mental is gone? Is this fair? You can see why you don’t deserve it.
Thus, the next time you here hear someone say,” you deserve it,” red flags should instantly go up in your mind. Someone is trying to steal your dreams for themselves.What you really deserve is individual freedom, personal power, and peace of mind which I know you will get hence forth.
See you at the top.
©Omokaro Efeobome. All Rights Reserved http://talk-about-wealth.blogspot.com and http://smallbusiness-wealth.blogspot.com